PRAN-RFL Group, a leading conglomerate in Bangladesh, is set to invest Tk 500 crore over the next three years to manufacture and market motorcycles and electric scooters.
The group aims to produce its own eco-friendly electric scooter brand, RYDO, while also taking over the manufacturing and distribution of the renowned Indian brand TVS in the local market, according to a press release.
The move is expected to create direct and indirect employment for 5,000 people.
A motorcycle assembly and manufacturing plant will soon be established at the Habiganj Industrial Park.
“Today, motorcycles and bicycles are not just modes of transportation for young people; they have become lifestyle products,” said RN Paul, managing director of RFL Group.
Under a recently signed memorandum of understanding (MoU), PRAN-RFL will invest Tk 400 crore in phases to produce “Made in Bangladesh” TVS motorcycles.
Mahmudur Rahman, chief operating officer of RFL’s bike business, said that marketing of TVS motorcycles will commence by the end of February, with full-scale production at the Habiganj factory starting within this year. Initial target is to produce 5,000 units a month.
RFL has already begun assembling RYDO scooters, which are electric vehicles, with an initial investment of Tk 50 crore.
“By 2027, we aim to offer high-quality RYDO electric scooters at around Tk 50,000,” Paul said, adding that the group plans to manufacture almost all components locally within the next year to ensure affordability.
To address charging infrastructure challenges, the group is installing fast-charging stations at its retail outlets in partnership with Glafit Bangladesh Limited.
The country’s motorcycle market is currently valued at Tk 7,000-8,000 crore, with annual growth of 16-17 percent. Industry experts expect national production capacity to reach one million units by 2027.
